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if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress clubbing it over the head again, pushing us back down yet again. >> yet again. justin, thank you, sir, from the university of michigan. great to have you. >> thanks, alex. >> catch one of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot of window dressing. the displ
if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress...
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i'm ready to sign it. >> politico calls it the fiscal cliff roadshow. the president going to middle class americans about avoiding the cliff. 33 days and counting. and join our conversation on twitter. [ female announcer ] you can make macaroni & cheese without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouffer's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 year
i'm ready to sign it. >> politico calls it the fiscal cliff roadshow. the president going to middle class americans about avoiding the cliff. 33 days and counting. and join our conversation on twitter. [ female announcer ] you can make macaroni & cheese without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouffer's. i've got a...
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hoffa, if we go off the fiscal cliff, you're prepared to do that. that would hurt a lot of your members. are your members, do you think middle class americans are prepared to go down that road and bare the brunt of a tax increase just because republicans are stubborn? >> no one wants to see that happen, but guess what? this is something that's not going away. they have done this for the last two years. they held hostage every issue from fixing the roads, the reauthorization, unemployment benefits, we can't keep letting them hold us hostage every time we want to do something that's good for the country. it would be very damaging, but i don't think it would last long because the pressure would be so strong they'll have to do the right thing. they are not going to sacrifice their future for the 2% and basically hurt the 98% of the people that would keep the basic changes that they have. >> so you're saying political russian roulette, bring it on. you think the democrats are in a solid position now and that will hold with the american people. that's int
hoffa, if we go off the fiscal cliff, you're prepared to do that. that would hurt a lot of your members. are your members, do you think middle class americans are prepared to go down that road and bare the brunt of a tax increase just because republicans are stubborn? >> no one wants to see that happen, but guess what? this is something that's not going away. they have done this for the last two years. they held hostage every issue from fixing the roads, the reauthorization, unemployment...
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he has ceos, lots of fiscal cliff stuff. joy's christmas shopping and was looking at best buy for the latest smartphone. you wanna see if walmart has the same phone, for less? let's see! samsung galaxy s3 --- you could save over $50. no way! and -- you get a $100 gift card. are you serious?! yes! see for yourself how much you can save on the smartphones you want for christmas. walmart. but when i was in an accident... see for yourself how much you can save on the smartphones i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> i learned the value of a dollar working in my dad's store and running my own small business. i know we can pay down the debt while protecting social security and medicare. >> we need firm footing by reforming our tax cod
he has ceos, lots of fiscal cliff stuff. joy's christmas shopping and was looking at best buy for the latest smartphone. you wanna see if walmart has the same phone, for less? let's see! samsung galaxy s3 --- you could save over $50. no way! and -- you get a $100 gift card. are you serious?! yes! see for yourself how much you can save on the smartphones you want for christmas. walmart. but when i was in an accident... see for yourself how much you can save on the smartphones i was worried the...
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there wasn't any talk about the fiscal cliff. we'll see what happens this week because these negotiations continue. but those shopping numbers have given people a lot of reason to think maybe there's some good news out there. we see the numbers coming in on this today, cyber monday,s biggest online shopping day. $1.5 billion in sales. chuck, i will admit, on amazon this morning, i got shut out by the deals i wanted to get. hey, it's worth a try. >> i guess you have to right that "r" button, refresh. thank you, becky. >> thank you, chuck. >>> one of the tasks of political strength, how do you fare in unfriendly it territory? in today's deep dive we're taking a look at the democratic senators holding seats in some of the reddest presidential spots on the map. take a look at this. in the new congress a dozen democrats will hold seats in states that voted for mitt romney. one in alaska, ed north dakota, south dakota, missouri, arkansas, louisiana, indiana and north carolina. democrats hold both senate seats in west virginia and monta
there wasn't any talk about the fiscal cliff. we'll see what happens this week because these negotiations continue. but those shopping numbers have given people a lot of reason to think maybe there's some good news out there. we see the numbers coming in on this today, cyber monday,s biggest online shopping day. $1.5 billion in sales. chuck, i will admit, on amazon this morning, i got shut out by the deals i wanted to get. hey, it's worth a try. >> i guess you have to right that...
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the fiscal cliff is a bluff. now, defaulting on the debt, that's something real. you could spark some global financial crisis. but the fiscal cliff, people are going to wake up january 2nd, 3rd, 4th, 5th, and nothing substantial will have changed. because these are cuts that are phased in, it'll take a long time for the withholding to start hitting people's paychecks, and even after withholding starts hitting people's paychecks, you're not going to see an immediate change in spending that would have some type of immediate and cataclysmic effect on the economy. what does immediately change is december you have the bush tax rates in effect. january, you have the clinton tax rates in effect. democrats are better off negotiating from the clinton rates and then they're saying, okay, look, here are the rates, we're going to bring this down, we're going to bring this down. we're going to leave these how they are. how would you like to vote for this? are you going to oppose this? and people didn't really vote for compromise necessarily this election. they overwhelmingly e
the fiscal cliff is a bluff. now, defaulting on the debt, that's something real. you could spark some global financial crisis. but the fiscal cliff, people are going to wake up january 2nd, 3rd, 4th, 5th, and nothing substantial will have changed. because these are cuts that are phased in, it'll take a long time for the withholding to start hitting people's paychecks, and even after withholding starts hitting people's paychecks, you're not going to see an immediate change in spending that would...
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one would think that the fiscal cliff itself, it's a man-made crisis and good enough. maybe it needs to go further than that. you need to see markets tank and need to see the economy plummet and then say we tried and we have to give in on that. that's an awfully dangerous game to play. >> that's sad. >> dana, we have word that mitt romney is going to the white house tomorrow. oh, to be a fly on the wall over there. what do you expect that meeting to sound like? >> awkward. >> is this for show? because obama basically said that he would or do you really expect this to be a meeting of the minds and actual sort of agenda to come out of it? >> yeah. well, the white house announcement is terrific. it said it's a private meeting in the private dining room and no press. >> right. >> very clear that they won't want anything to come out of it. i suspect it will be one of those photo releases of them strolling down the colonnade or something looking like good friends. >> that's what i thought. >> this is a requirement. they agreed to do it. neither one particularly likes the oth
one would think that the fiscal cliff itself, it's a man-made crisis and good enough. maybe it needs to go further than that. you need to see markets tank and need to see the economy plummet and then say we tried and we have to give in on that. that's an awfully dangerous game to play. >> that's sad. >> dana, we have word that mitt romney is going to the white house tomorrow. oh, to be a fly on the wall over there. what do you expect that meeting to sound like? >> awkward....
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. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for american progress where he said this about the possibility of going off the cliff which fears of this show know is is really more of a curb than a cliff. >> some have called let's go over the cliff and watch what happens. we know if we're not careful, it will in fact stop economic growth and hurt everyone through every income category, particularly those most vulnerable. >> what he did not say is he must not go off the
. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff...
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and that needs to be remembered when we're talking about the fiscal cliff. now, women really are, in fact, bearing the primary burden of all of these cuts. and so what we're saying is, let's don't engage in these cuts. let's have an aggressive jobs policy, put people to work, bring more money into the federal treasury, and lower the deficit that way. and, obviously, tax the millionaires and billionaires fairly for the first time in 30 years. >> right. >> so, terry, aggressive jobs program. great. that's the third way. president obama submitted to congress the american jobs act last september. so are you suggesting -- are you suggesting that that bill be passed? are you suggesting that it be reworked, junked and recreated? the second part of that question is, what are you going to do? what is now going to do to ensure that it gets passed? >> i would really much rather representative john connier's jobs bill be passed. it's much more aggressive. january ja cow ski also has a wonderful jobs bill. president obama's is much more modst. but it does lead us beginni
and that needs to be remembered when we're talking about the fiscal cliff. now, women really are, in fact, bearing the primary burden of all of these cuts. and so what we're saying is, let's don't engage in these cuts. let's have an aggressive jobs policy, put people to work, bring more money into the federal treasury, and lower the deficit that way. and, obviously, tax the millionaires and billionaires fairly for the first time in 30 years. >> right. >> so, terry, aggressive jobs...
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fiscal cliff worries sinking stocks. the dow slipping 89 points, the s&p losing 7, falling below 1400, and the nasdaq ending off 9. as for the economy, consumer confidence hit a 4 1/2 year high this month while home prices rose in most major cities in september according to s&p case-shiller. and orders for durable goods were flat last month as rising demand for machinery offset declines in autos and defense. that's it from cnbc, first in business worldwide. now back over to "hardball." ♪ >>> i'm not late. and i'm going to stay right here and fight until this is done. even if this room gets filled with lies like these and the tailors and all their armies come marching into this place. somebody will listen to me. >> wow. welcome back to "hardball." now, that is what a filibuster looks like, a real one. jimmy stewart collapsing at the end of a 23-hour filibuster. one-man fill biser in "mr. smith goes to washington." now filibuster shall the nonevents that gum up legislation and have almost paralyzed the united states sena
fiscal cliff worries sinking stocks. the dow slipping 89 points, the s&p losing 7, falling below 1400, and the nasdaq ending off 9. as for the economy, consumer confidence hit a 4 1/2 year high this month while home prices rose in most major cities in september according to s&p case-shiller. and orders for durable goods were flat last month as rising demand for machinery offset declines in autos and defense. that's it from cnbc, first in business worldwide. now back over to...
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>> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead story -- one of the top stories on the front page of the "wall street journal" suggesting the president is flexible on the tax hikes, that sounds like a deal might get done. you see a gain of 50 or 60 points. gdp up 2.7% from 2%. there was concerning things when you dig into the numbers, it's all fiscal cliff all the time here, chuck. >> oh, hopefully, as you guys say, it will all -- people will rise above, right, becky? >> that's right. >> i know. i see the button. up next, we're taking a deep dive into the u.s. relationship with afgha
>> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead...
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the political theater over the fiscal cliff. treasury secretary tim geithner is on capitol hill right now set to meet with nancy pelosi in less than an hour. earlier today geithner met behind closed doors with house speaker john boehner, senate majority leader harry reid and frank mcconnell. the word he used to describe the overall negotiations, disappointing. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are not the way to get things done here in washington. >> democrats today said they're confident a deal can be reached by christmas. but admit negotiations would need to pick up steam. as for senator reid, he says it's now up to the gop to make the next move. >> we're still waiting for a serious offer from the republicans. the president has made his proposal. we need a propos
the political theater over the fiscal cliff. treasury secretary tim geithner is on capitol hill right now set to meet with nancy pelosi in less than an hour. earlier today geithner met behind closed doors with house speaker john boehner, senate majority leader harry reid and frank mcconnell. the word he used to describe the overall negotiations, disappointing. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this...
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he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said tha
he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would...
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so fiscal cliff is all the talk of washington, obviously. but you guys are writing this morning, your headline about the other fiscal fight, which is, again, the debt ceiling. >> yeah, i think people forget we have essentially three blink moments, sequestration, the debate, and we hit the debt limit probably some time in february. and you have to raise the debt limit unless you take the posture that some folks in the democratic party are recommending and saying just raise it unilaterally, have the president do that. i don't think that's what they want to do right now. in the past, congress has had to raise that debt limit. and as you know, house republicans aren't playing around. they don't want to raise the debt limit, don't want to spend more money. if you're a tea party freshman or sophomore now, that's the only issue you ran on. i'm not going to expand the size of government and that is the blink moment for them. i don't think there's a majority of republicans in the house that would vote to increase the debt limit unless forced to by jo
so fiscal cliff is all the talk of washington, obviously. but you guys are writing this morning, your headline about the other fiscal fight, which is, again, the debt ceiling. >> yeah, i think people forget we have essentially three blink moments, sequestration, the debate, and we hit the debt limit probably some time in february. and you have to raise the debt limit unless you take the posture that some folks in the democratic party are recommending and saying just raise it unilaterally,...
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the upcoming december 31st deadline, the so-called cliff, anything from that fiscal cliff to that fiscal slope. liberals are saying to that austerity bomb that progressive people don't like at all. former senator alan simpson proposed a plan to get the united states financial house in order that some say was our best shot at solvency. and avoiding the mess that awaits us come december 31st. senator simpson, it's always an honor. politics, i know you understand the irony of politics, it makes strange bedfellows. i want to try something by you. the president wants a deal. the president would obviously like to include something on revenues. the conservatives may not want to go along with that. but if it will include something on revenues. the best push is coming from people i don't normally side with like tom donohue of the u.s. chamber of commerce because he's warning if the congress screws around with this thing, through new year's, christmas and new year's, the whole world is going to be watching us screw it up again. and it's going to hurt the economy no matter who is in charge, it will
the upcoming december 31st deadline, the so-called cliff, anything from that fiscal cliff to that fiscal slope. liberals are saying to that austerity bomb that progressive people don't like at all. former senator alan simpson proposed a plan to get the united states financial house in order that some say was our best shot at solvency. and avoiding the mess that awaits us come december 31st. senator simpson, it's always an honor. politics, i know you understand the irony of politics, it makes...
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happy thanksgiving. >>> and join meganow for more on what the fiscal cliff could mean for you, wanda summers and bob frankton. welcome to both of you. happy thanksgiving. >> happy thanksgiving. >> we had on the other day fed chairman ben bernanke who issued the dire warning to the president. i want to play what he said. here it is. >> the realization of all the tax increases and spending cuts that make up if fiscal cliff with offsetting changes would pose a substantial threat to the recovery. indeed by the reck anything of the congressional budget office, the cbo, and that of many outside observers, the fiscal shock of that size would send the economy tumbling back into recession. >> bob, do you think this is enough to scare both sides into making an agreement? when you hear ben bernanke saying this is enough to scare the economy back into a recession, like we need to go there again? >> well, i think what he's been saying, what he's saying is what a lot of people are saying. we have the stifling atmosphere in washington and we need sort of the innovative approach. for instance, if yo
happy thanksgiving. >>> and join meganow for more on what the fiscal cliff could mean for you, wanda summers and bob frankton. welcome to both of you. happy thanksgiving. >> happy thanksgiving. >> we had on the other day fed chairman ben bernanke who issued the dire warning to the president. i want to play what he said. here it is. >> the realization of all the tax increases and spending cuts that make up if fiscal cliff with offsetting changes would pose a...
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this is the so-called fiscal cliff, right? so we know that is reality. the operation statute will by law make these rates go up. that's what's changed. we know that. so why would we want to punish folks to see their taxes go up? >> just to can cut through it, if you do nothing, taxes go up on everybody. >> everybody. everybody. and we do nothing to fix the problem so, again, even if all those taxes go up and we know it's like a $4 trillion eitem over ten years well, remember, how much are we spending more than we're taking in each year over a trillion dollars? so even if you raise all those taxes it does not fix your problem. which is, again, what's changed. the operation and the statute. so we're trying to make things better and say let's take this opportunity to come together to fix the spending problem which is why we need both nancy pelosi, harry reid, and the president to come forward and say, hey, here are our ideas. >> mike? >> joe, you say correctly, you point out correctly, you were elected to fix problems whether it's missoula, montana, or rich
this is the so-called fiscal cliff, right? so we know that is reality. the operation statute will by law make these rates go up. that's what's changed. we know that. so why would we want to punish folks to see their taxes go up? >> just to can cut through it, if you do nothing, taxes go up on everybody. >> everybody. everybody. and we do nothing to fix the problem so, again, even if all those taxes go up and we know it's like a $4 trillion eitem over ten years well, remember, how...
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obviously the fiscal cliff as well. the president is sitting down with a dozen chief executeties today to talk about this. some of them were prominent supporters of mitt romney. and then the president is going to try and sell his budget plan going to a toy factory. speaking of -- >> that's where i'd go. >> speaking of the budget, coming up, former treasurer secretary larry summers joins us on set and ray liotta and mark mckinnon and in a few minutes harold ford jr. up next the top stories in the political playbook with mike allen but first bill karins with a check on the forecast. bill. >> good morning, mika and everyone out here live rockefeller plaza. the world's failous rockefeller center christmas tree will be lit 8:00 nbc, 7:00 central. this tree has a little bit of history, not your typical tree. this tree had to survive hurricane sandy and was picked out in new jersey and had to tie it up quickly right before the storm hit to protect it from the storm because they didn't want to have to pick out a new tree. it su
obviously the fiscal cliff as well. the president is sitting down with a dozen chief executeties today to talk about this. some of them were prominent supporters of mitt romney. and then the president is going to try and sell his budget plan going to a toy factory. speaking of -- >> that's where i'd go. >> speaking of the budget, coming up, former treasurer secretary larry summers joins us on set and ray liotta and mark mckinnon and in a few minutes harold ford jr. up next the top...
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when you think about fiscal cliffs, you should know there's none worse than the fall into poverty. >> you should know the perils of corporate journalism are usually not as obvious as pleasing advertisers and politicians. the most powerful constraints are mundane and insidious. that said, you should know that principal journalists can let their audience know on occasion when something is afoot. that happened in bangor, maine, when a local news anchor team surprised their audience and bosses by resigning on air. >> on behalf of cindy and me, we have loved every moment bringing the news to you and coming into the homes with your stories of the community and the state and some recent developments have come to auour attention and departing together is the best alternative we can take. >> both declined to offer specifics, but he told the news he wanted to know i was being honest and ethical as a journalist. i thought there were times when i wasn't able to do that. all right. i want to find out what you guys think our audience should know. i'll begin with you, with congressman steve cone. >>
when you think about fiscal cliffs, you should know there's none worse than the fall into poverty. >> you should know the perils of corporate journalism are usually not as obvious as pleasing advertisers and politicians. the most powerful constraints are mundane and insidious. that said, you should know that principal journalists can let their audience know on occasion when something is afoot. that happened in bangor, maine, when a local news anchor team surprised their audience and...